Vancouver’s Hut 8 Mining Corp has announced plans to create “North America’s largest bitcoin mining datacenters”. The ambitious scheme will see the Canadian firm partner with mining specialists Bitfury, who will provide the hardware, software, and maintenance. Subject to necessary funding being raised, the deal is expected to be completed in 2018.
America’s Biggest Mining Operation Gets Underway
In a statement released December 4, Hut 8 revealed details of a multi-stage process to dominate the American cryptocurrency mining industry. The project will commence with the acquisition of 22 datacenters which will furnish the British Columbia firm with over 24 MW of hashing power. For the second phase of the deal, which will see an additional 35 datacenters packing 38.5 MW snapped up, Hut 8 is dependent on a public listing on the Canadian stock exchange. In a statement, CEO Sean Clark said:
Bitfury’s market share, unmatched computing power, and ability to scale, in combination with a Board of Directors that former hedge fund manager Michael Novogratz and renowned venture capitalist Bill Tai have both agreed to serve on, offers Hut 8 an extreme advantage in a competitive marketplace.